The U.S. Securities and Exchange Commission has scheduled a meeting for August 14 to propose its first formal rulemaking on crypto asset issuance, known as "Regulation Crypto."
SEC Chairman Paul Atkins has long identified this rulemaking as a central piece of his crypto regulatory agenda. The three-member commission, all Republicans, will use the meeting to open the proposal for public comment. The SEC issued a Monday night notice announcing the Friday meeting with unusually short notice, though the item has reportedly been on the agency's agenda for some time.
The rulemaking is described as involving "a tailored offering regime for certain investment contracts." It comes just a week after the U.S. Senate left Washington without holding even a procedural vote on the Digital Asset Market Clarity Act, legislation intended to define how the SEC and the Commodity Futures Trading Commission oversee crypto markets.
TD Cowen analyst Jaret Seiberg said in a client note following the SEC's announcement: "We view this as the first of several rulemakings the SEC will undertake to provide regulatory certainty for crypto assets after the Senate failed before the August recess to advance the Clarity Act on crypto market structure."
What Regulation Crypto Would Do
- Give crypto firms a path to raise capital for projects without triggering SEC registration requirements.
- Provide businesses an exit route from SEC jurisdiction once they are no longer engaged in hands-on management of a project.
